Condo with City and Sunset
For Sale
$499,000
1750 N Bayshore Dr 2215, Miami, FL 33132
Two-bedroom condo with city views, modern kitchen, and balcony.
Property Size1,048 SF
Days on Market277
Property Features for 1750 N Bayshore Dr 2215
General Information
Standard status
Active
Size
1,048 SF
Property subtype
Residential
Taxes and HOA fees
Annual Taxes
$7,065
Building Details
Building Size
1,048 SF
Year Built
2007
Listing Agency:
CASAMAGNA REALTY LLC
(305) 927-4251
Listed By:
Alexandra Castro · License #A12010214
(305) 927-4251
Source:
Elliman
Added: Nov 27, 2025
Changed: Aug 13
Last Checked: Aug 30 at 3:36PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of CASAMAGNA REALTY LLC
Investment Insights
Based on property information with market context.
This two-bedroom condo offers city views and sunset views. The unit features a modern kitchen with stainless steel appliances, as well as a washer and dryer. Every room provides access to a large, oversized balcony. The property is located across from Margaret Pace Park and is close to supermarkets, restaurants, the Arena, Adrienne Arsht Center for the Performing Arts, Prez Art & Frost Museum of Science. It is also located minutes from the Midtown shopping center, Wynnwood, and the design district. Building amenities include a pool, gym, sun deck, club room, mini market, front desk, and 24-hour valet.
Key Highlights
- Short‑term rentals allowed (minimum 30 days)
- Great city and sunset views
- Oversized balcony with access from every room
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$19,360
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.88%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$387,200
$387.2K
Cap Rate 7%
$276,571
$276.6K
Cap Rate 9%
$215,111
$215.1K
Market Conditions
NOI Build-Up for 1,048 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$37.7K $36.00/SF
− Vacancy
−$2.5K −$2.41/SF
EGI
$35.2K $33.59/SF
− OpEx
−$15.8K −$15.11/SF
NOI
$19.4K $18.47/SF
Area
Miami, FL
Vacancy
6.70%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$387,200
Cap Rate 7%
$276,571
Cap Rate 9%
$215,111
Alternative Uses
Best Use
Apartment 5plus
$276.6K
$242.0K – $322.7K
NOI $19,360 @ 7.0% cap · market cap 3.88%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$707.4K
$619.0K – $825.3K
NOI $49,518 @ 7.0% cap · market cap 9.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,327
Businesses Nearby
Explore this area
Business Placement
Demographics for 33132, FL
18,159
Population
12,725
Households
1.4
Avg Household Size
35
Median Age
61%
College-Educated
95%
High-School Grad
1.5 sq mi
ZIP Area
12,106
Density / Sq Mi
$109,505
Median Household Income
$71,509
Median Earnings
$2,534
Median Rent
$545,100
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Two-bedroom condo with city views, modern kitchen, and balcony.
Where is this apartment building located?
The property is located at 1750 N Bayshore Dr 2215 Miami, FL.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Short‑term rentals allowed (minimum 30 days); Great city and sunset views; Oversized balcony with access from every room
